Moazzam "Mark" Malik, 33, stole close to $850,000 from 16 foreign and domestic investors starting in 2011, according to a Securities and Exchange Commission complaint released last Friday.
The SEC alleges that Moazzam “Mark” Malik falsely claimed to be operating a hedge fund with approximately $100 million in assets under management, and he solicited investors with promises of consistently high returns.
He allegedly went so far as to create a fictitious fund employee who sent one investor an e-mail claiming that Malik had died of a heart attack.
“By pretending to be a successful hedge fund manager, Malik conned investors into bankrolling his lavish lifestyle,” said Andrew M. Calamari, Director of the SEC’s New York Regional Office.
“Besides luxury travel, dining, and jewelry, investor funds paid for Malik’s continuing education courses at Harvard and his subscription to a matrimonial matching website,” Calamari said.